The growth of the global energy as a service market is driven by increase in renewable energy generation, and rise in energy efficiency activities.
PORTLAND, OREGON, UNITED STATES, October 7, 2021 /EINPresswire.com/ —
Key drivers of global energy as a service market
The global energy as a service market growth is driven by increase in renewable energy generation, and rise in energy efficiency activities. In addition, rise in demand for energy is a key driver of the global market. Moreover, rise in effort by building owners to reduce the energy cost of the buildings serves as the major driver of the market. Furthermore, certain factors contributing toward the growth of the global energy demand include rise in renewable energy adoption, and increase in smart grid installations. Rapid advancement such as artificial intelligence & data mining and improvement of energy demand responsiveness in both commercial and residential sectors in developed regions significantly boost the overall growth of the market.
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Market scenario: opportunities and challenges
Organizations are seeking for sustainable energy sources, which is anticipated to serve as a lucrative opportunity for the expansion of the market. Furthermore, factors such as development of the transportation sector by electrification, including the adoption of electric vehicle, increase in emphasis on sustainable energy, and rise in acceptance of distributed energy resources (DER) augment the growth of the global energy as a service (EaaS) industry. Moreover, advancement in integrated distributed energy resource (IDER) utilizing data analytics and artificial intelligence in energy as a service (EaaS) industry are expected to create new avenues for the market growth. However, lack of skilled expertise and high development costs to upgrade the existing grid infrastructure are some of the factors that hamper the growth of the energy as a service (EaaS) market during the forecast period.
Top Key Players in the global energy as a service market are:
• Duke Energy (U.S.)
• EDF Energy (UK)
• Edison International (U.S.)
• Engie (France)
• Southern Company (U.S.)
• Schneider Electric SE (France)
• General Electric (U.S.)
• Siemens AG (Germany)
• WGL Energy (US)
• Orsted (Denmark)
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Key benefits of the report
This study presents the analytical depiction of the global energy as a service (EaaS) industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global energy as a service (EaaS) market share.
The current market is quantitatively analyzed from 2019 to 2027 to highlight the global energy as a service (EaaS) market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
COVID-19 scenario analysis
Global energy as a service (EaaS) market is expected to witness slowdown during the forecast period, owing to the outbreak of the COVID-19 pandemic. Alarming increase in the cases of COVID-19 worldwide has had an adverse impact on the energy industry with manufacturing facilities temporarily shut, leading to a significant slowdown in the production. In addition, the outbreak resulted in disruption across the ecosystem with several supply chain participants shifting their production facilities outside China. Lockdown imposed by the governments has not only affected manufacturing but also declined consumer demand energy as a service.
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Source: EIN Presswire